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Are you thinking of outsourcing some of the tasks in your law firm? If so, you have made a wise decision. But the global outsourcing industry is vast. It can be tricky to choose which service provider is best for you.
During your search, you might have encountered acronyms for different types of outsourcing, such as BPO, KPO, and LPO. But what exactly do they mean? And how do you choose among them? Worry not, because we can explain that to you.
What is BPO?
BPO stands for business process outsourcing. Businesses use this to hire third-party service providers to handle non-primary processes.
In BPO, there is a wide range of tasks that you can outsource. Service providers can cover different processes, including call center services. This includes call center services, human resource services, and IT services.
Also, this kind of outsourcing can cater to almost any business model and industry. Some even consider it an umbrella term for all types of outsourcing.
What is KPO?
Compared to BPO, KPO is more targeted and specific. Knowledge process outsourcing, as the term suggests, deals with information-related functions. Unlike BPO, however, KPO aims to take on the core tasks of a business.
KPO services are often sorted into the following categories:
- Market research: also called business research. This service deals with gathering information on what consumers would buy. It also doubles as a strategy consulting service.
- Data management: the data management process covers several business operations. It involves gathering, storing, organizing, and maintaining data for an organization.
- Data analytics: the primary purpose is to provide insight into business strategies. It processes information to reveal metrics and trends which can guide your business.
- Performance management: used to ensure that the organization is meeting its goals. Performance management helps determine the points you need to improve to boost your productivity.
Since this type of outsourcing is highly specialized, not everyone can do it. Individuals who perform KPO services tend to have advanced degrees in specific fields.
What is LPO?
Legal process outsourcing (LPO) is exclusively made for the legal industry. Among the three, it is the only industry-specific outsourcing type. And it mainly covers the non-core operations of a law firm.
Individuals and companies who offer this service should be knowledgeable about legal processes. The service providers are often paralegals, attorneys, or anyone familiar with the law.
Which type of outsourcing is most ideal for legal practices?
When shopping for clothes, wouldn’t you want the ones that fit you best? The same principle applies to outsourcing. You would like services that are tailor-made for your firm, and LPO is just that.
Yet it doesn’t mean your law firm can’t use BPO or KPO. As a business that deals with information, you might still need other outsourcing services.
So, when looking for an outsourcing partner, it is best not to discount BPO and KPO providers. Better yet, look for a well-rounded company offering all three outsourcing services.
How can legal process outsourcing help your law firm?
The LPO industry aims to help and support legal practices. As such, it offers plenty of benefits to your firm. Here are some of them:
- More time for core activities: legal work is much more than research, phone answering, or transcribing interviews. LPO providers are here to do those non-essential work so that you can focus on core activities.
- Reduce costs: it’s not easy to hire and train new employees, and it’s not cheap either. With legal outsourcing, you can expand your staff without paying onboarding costs.
- Improve client relationships: it’s easier to accommodate your clients when there is less work on your plate. LPO does not only reduce your workload — it can provide you with customer service experts, as well.
- Efficiently hire expert service: LPO providers are experts at what they do and are well-equipped for the job.—no need to spend a lot to hire and train experts. Also, you do not need to acquire new tools and equipment.
- Boost your growth: LPO is proven to boost the market growth of law firms. It improves client retention, revenue flow, and bottom-line growth.
Is it safe to offshore LPO?
Safety is a primary concern in offshore outsourcing. This is even more crucial in LPO because sensitive data is always involved. Despite this, it is safe to offshore LPO.
When done right, offshore outsourcing can even amplify your revenue. Some regions offer inexpensive outsourcing rates. If you outsource to these places, you will find that it costs much less than onshoring or nearshoring.
Also, the safety of LPO offshoring dramatically depends on your choices. For example, you might expose your data to security risks if you choose an unreliable service provider.
How do you choose the right service provider?
The global legal outsourcing market is significant and is still growing. Many service providers are out there, but not all fit your practice well.
So, to select the right LPO provider, you need to consider the following factors:
- Length of experience: choose a company that has been in the industry for a long time. They would know how to do their job efficiently. And they would have ample experience in dealing with different clients.
- Well-trained staff: the staff should be well-trained and knowledgeable in legal processes. The team should also receive regular training and assessment.
- Value for money: you need an outsourcing partner whose rates are within your budget. But, at the same time, they should still be able to provide high-quality services.
- Safety guarantee: this is the most crucial factor. You have to ensure that you outsource to an LPO provider who can protect your data. The best way to do this is to check for ISO certifications.
A leading legal process outsourcing service provider in the Philippines
Are you looking to offshore your LPO needs? Try outsourcing to the Philippines. The country is a central outsourcing hub for businesses around the world. Here, labor is sustainable, and the people are effective communicators, especially in English.
Magellan Solutions is one of the world’s leading LPO providers. We are an outsourcing company based in the Philippines and have been in the industry for over 15 years. Aside from legal outsourcing, our company offers many services, including BPO and KPO.
What to expect from Magellan Solutions?
At Magellan Solutions, we make sure that our staff are ready for your law firm. We only hire LPO staff with advanced training, education, and experience. And we also make sure to monitor, evaluate, and train them regularly.
It is our goal to support growing businesses around the world. So, we offer flexible rates that are ideal for startups and SMEs. And we do this without sacrificing the quality of our services.
Magellan Solutions also has the ISO-27001 certification. This means that we have appropriate measures to handle your data. And that we can assure you that any sensitive data about your law firm and clients will stay safe with us.
Are you ready to partner with us? Contact us today and discuss what we can do for your law firm.
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